Businesses: business corporations; power of corporations to spend in elections or ballot issues; revoke. Amends secs. 261, 271, 821, 1012 & 1041 of 1972 PA 284 (MCL 450.1261 et seq.) & adds sec. 261a. TIE BAR WITH: HB 6216'26, HB 6217'26

This bill amends Michigan's Business Corporation Act to prohibit corporations, both domestic and foreign, from spending money to support or oppose candidates, political parties, political committees, or ballot questions. If a corporation violates this, the act is invalid and can lead to the dissolution of a domestic corporation or the revocation of a foreign corporation's authority to do business in Michigan. These restrictions do not apply to existing contracts or to bona fide news reporting, unless the media outlet is controlled by a political entity.

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